Investors understandably have the jitters when it comes to investing in Spain, however these 3 indicators for the long term in Murcia are all on green and show the region as an investment opportunity not to be missed.
Back in 2006 Murcia reached a record level in house prices in September 2006 when homes were valued at an average of 2,297 euros per square meter. In those days the opportunities for investors definitely lay elsewhere as the speculation fuelled an unsustainable boom in house prices.
The first green light is that prices are now down by an average 33% on their peak which tells us that this is a clear investment signal, particularly when you consider the substantial investment in infrastructure that will see Murcia become a magnet for tourists.
Our second green light for Murcia property is that the region is now among the cheapest in Spain with the price per sqm averaging € 1,327 / m2, according to the ST-Evaluation Society. Their findings were based on a survey based on housing in all provincial capitals and large towns numbering 25,000 inhabitants or more.
This price per square meter can be compared with an average of around €2,000 in locations such as Marbella and other resorts on the South Coast of Spain.
Now these figures would normally be alarming for investors, however when you look more closely at an area that will see the arrival of a huge new theme park and an airport along with associated improvement, Murcia property becomes a lot more interesting .
This takes us to our third green light. The newly constructed Corvera airport is on track to receive its capacity of 11 flights per hour. This means that in its first year of operation, first year of life, Murcia will have approximately 1 million passengers passing through the airport.
This figure is set to triple in three years with 12 million passengers a year expected by 2030. This is one of the major incentives for the construction of the Paramount Theme Park nearby.
The entrance to the new park will be located around 9km from the highway at Alhama-Campo de Cartagena. A recent study of the area reveals that 8,250 parking spaces will be required for visitors, plus 188 for park employees.
The study has also envisaged that the park will be receiving 263 buses per day. A budget of 4 million has been set aside for access work alone and work expected to be undertaken at the end of the year.
So with property prices this low and rental potential incredibly high resulting from the likely demand for accommodation nearby, this is an ideal opportunity to invest in the best resorts nearby while others remain fearful.
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